The total hours worked in the UK's transportation and warehousing sector stood at 3 billion hours in 2023. Forecasts indicate a steady increase over the next five years: 3.2 billion hours in 2024, 3.24 billion hours in 2025, 3.28 billion hours in 2026, 3.31 billion hours in 2027, and 3.35 billion hours in 2028. Year-on-year variations show moderate growth: 1.25% from 2024 to 2025, 1.23% from 2025 to 2026, 0.91% from 2026 to 2027, and 1.21% from 2027 to 2028. The Compound Annual Growth Rate (CAGR) for the period from 2024 to 2028 is approximately 1.21%.
Future trends to watch include the increasing impact of automation and AI in logistics, potential regulatory changes due to environmental policies, and shifts in consumer behavior towards e-commerce, which could drive demand for warehousing and transportation services. Additionally, the sector might experience variable impacts from global economic conditions and Brexit-associated adjustments.
